In today’s environment, ensuring sustainable development is one of the long-term goals of any state, and therefore consideration of new approaches and concepts remains relevant. The purpose of this study was to investigate approaches to accounting in the context of the circular economy. The study assessed some main approaches to financial reporting based on the principles of sustainable development and the circular economy, and conducted a comparative analysis of the similarities and differences. Conclusions were drawn regarding the role of existing standards in the activities of enterprises in the context of achieving sustainable development goals. The large number of existing international and national standards results in the absence of a single global approach that could meet the needs of all market participants. In addition, each approach focuses on a specific component of non-financial reporting disclosures, and therefore is more or less effective in different situations. An analysis of accounting approaches in countries such as Japan, Germany, Finland, the United States, Canada, Brazil, and Ukraine was conducted. It was found that in these countries, the general approaches are similar and based on international standards, while in some countries local laws may be applied, which form more specific reporting principles. The findings of the study highlighted the importance of a unified global approach to reporting that can meet the needs of the market. The practical value of the study lies in the possibility of using the results to develop public policy and corporate strategies in the field of sustainable development

accounting efficiency; audit; financial reporting; environmental sustainability; social responsibility